BUSINESS STRATEGY ASSIGNMENT

Business strategy plays a vital role in the establishment and progress of any business as it determines the long term goals, objectives, action plans and the required resources to achieve those goals. Thus a business strategy formulates an organisation’s approach to establish a market or bring out a business component. This strategy is developed by internal analysis of an organisation that what is the current situation, what are the strengths, weaknesses and opportunities. Internal analysis is also significant in order to explore the resources and to develop the competencies to revaluate the value adding activities to be more established and to address the weaknesses that might hinder the progress of the business. The next step is future planning to determine the goals and then the most important step is to think and formulate an action plan to achieve the goals. A case study of a small private trading company is going to be discussed below in which I am going to suggest a business strategy for a business organisation that will be certainly beneficial for its stakeholders. 1. The Company

Asfalsa.S.A (Quito, Ecuador) is jewellery trading private company. This company has been operating in the silver jewellery trading world for the last four years. The chief executive of this company is a single person. He has contacts with the jewellery shops in the city and provide them on the whole sale rate. He employed five people who sell this jewellery in other cities. He pays his employees on monthly basis. The aim of this company is to become one of the biggest jewellery trading companies in the city and to earn more profit. 2. Products:

This company imports the sterling silver jewellery with and without precious stones like ruby, emeralds, sapphire, and turquoise etc. this jewellery is usually imported from Thailand which is famous for its best quality silver in the world. 3. Target Market

The target market for ‘Asfalsa.S.A.’ is both men and women. It offers variety of ornaments like rings, earrings, pendants, bracelets, bridal sets. The company believes in providing the original sterling silver jewellery to the customers. Therefore, for the reliability of the customers, every single piece of the jewellery has its originality stamp 9.25 by the factory, so that customers could feel confident in buying the original things for which they are paying. Being original this company’s products are a little bit expensive and because of this customers’ ratio is not as high as most of the people like to buy cheap stuff. Usually during Christmas, there is peak season and this company can earn more than during the rest of the year. So the plan of the company is to revaluate its strategy to maintain its income throughout the year. The employees of the company are not working hard because of their fixed salaries. Therefore, from the last one year income of this company is not as much as it was in the beginning of the business. SWOT and PESTEL analysis is very important for strategic planning as it depicts to an organisation about the environment that how it affects to the achievements of the desired goals. 4. SWOT Analysis:

In the case of ‘Asfalsa S.A.’ the foremost speciality of the company is that it sells original sterling silver with original stones. For the customers’ reliability each single piece of the jewellery carries stamp of 9.25. The jewellery which is sold by this company is famous for beautiful and unique designing. Most of the customers are loyal to the company and are permanent patrons. These customers are usually well off people who love to buy unique and expensive bits of jewellery so they spend money generously. This jewellery is imported by Thailand and the owner of the company has direct dealings with the jewellery factories and is also a regular client so he is able to buy his stock on cheaper rates than other traders. The weaknesses that cause the decrease of...

You May Also Find These Documents Helpful

...﻿
BusinessStrategy
HND Business
(HNDBUSCoreUnit7/Jan2013/)
Submission date: 11th May 2013
By: Angela McGowan Student Reference: H1301100
Case Study
The company I have chosen to use for my assignment is Premier Inn.
Premier Inn are a part of a multinational company called Whitbread PLC. Premier Inn started out as “Travel Inn” and the name was changed in 2007 after Whitbread purchased “Premier Lodge”. Premier Inn is now one of the largest and cheapest (budget) hotel’s in the UK. They also have hotels in India and the Arabian Gulf. They have over 600 hotels throughout the UK and Ireland. The hotel specialises in being cheap and of a high quality. The other companies that are part of Whitbread PLC are Costa, Beefeater Grill, Brewers Fayre, Table Table and Taybarns. Whitbread PLC are the largest hotel and restaurant group (Whitbread, 2011)
Task 1.1
Mission
We want to make our hospitality brands the best they can be by focusing on our customers and giving them just what they want”
Vision
We will grow legendary brands by building a strong customer heartbeat and innovating to stay ahead.
Our winning teams make every day experiences special for customers so they come back time and again, driving profitable growth. Good Together helps us be a force for good in our communities.
Objectives
Premier Inn will maintain its advertising expenditure both on TV and...

...Subject: BusinessStrategy written case study
Student Name: Yani Li
Topic: Q7, Constellation is one of Foster’s major competitors in the world alcoholic beverages market, what do you see as the relative strengths and weaknesses of these 2 major competitors?
Introduction:
Strength and weakness are the two major components which attached to the internal environment analysis, internal analysis are relate to competencies, capability and resources within the organization. In this essay I will demonstrate the two firms’ strengths and weakness, by explores the quality and quantity of the capability and resources available to the organizations (Hill et al 2006, p7). Foster’s Group Ltd is one of the leading companies within the alcoholic beverage industry, it is the provider of premium wine, beer, cider, and spirits and non-alcoholic beverage; overall with more than 200 premium brands sales across the globes including Australia, Asia Pacific, America, Europe, Africa and Middle East. Fosters have supplies over 38,000 customers and 150 countries (Fosters’ official website, 2009). The most importance thing is Foster’s Company have announced to become the world’s leading premium alcoholic beverage company and the Australia’s leading beverage business by taken over the South Corp Company in 2005( Fosters’ official website, 2009). Foster’s Company has numerous strengths offer the company a competitive edge over other competitors, and this...

...
BusinessStrategy
Victoria’s Secret, in both its’ business and e-business components use a B to C businessstrategy that focuses on the same market segment and economics in both channels. Strategically the company focuses on individual business processes instead of its’ business model so that it can improve upon some of them with technology as this avoids a primarily internet-driven business model which could affect the sales of their retail locations. Their business processes that support their overall selling and purchasing activities for their physical locations can be utilized by the e-commerce channel of the business as well as the retail locations which is a strategy implemented in order to reduce transaction costs by improving the flow of information within the company and its’ channels. This helps to coordinate the actions for both channels which is useful in maintaining the same brand standards regardless of where the consumer is buying the product. An example of this would be the technique library database the company established which is shared among all regions/suppliers and includes company standards of design and production.
Victoria’s Secret implements a businessstrategy that makes use of multiple marketing channels such as their retail stores and...

...Strategy and Business Environment Assignment
Class Student name Submit Date
: MBQPM4 : Ha Trung Hai : December 9th 2012
1. Introduction
SKF is one of the leading global suppliers of products, solutions and services in the area of rolling bearings, seals, power transmissions, services and lubrication system. The company business is divided into three divisions Industrial, Automotive and Service. Each division serves a global market, focusing on its specific customer segments. SKF has over 100 manufacturing factories all over the world and its own sale companies in 70 countries. SKF is also represented in140 countries through over 15,000 distributors and dealers. It is always close to customers for the supply of both products and services. SKF was founded in 1907 and from the beginning it focused intensively on quality, technical development and marketing. Nowadays, SKF is the biggest company in bearing field in the world. It continuously improves products and services with the highest quality and the latest technology to satisfy the demands of customers. In Vietnam, SKF Vietnam is a Representative office which was established in 1991 with over 30 employees. After 21 years, SKF Vietnam has developed sharply with 38 distributors and dealers around the country to provide customers best products and services to all kind of industries.
2. SWOT Analysis
2.1 Strengths Worldwide brand, lots of well-known...

...﻿ASSIGNMENT 1 BRIEF
Qualification
BTEC Level 5 HND Diploma in Business
Unit number and title
BusinessstrategyAssignment issued
Assignment due
Assessor name
Assignment title
Based on the studied relevant chapters, complete the following tasks.
Aim of the assignment
This assignment satisfies the following learning outcomes:
LO1 Understand the process of strategic planning
1.1 assess how business missions, visions, objectives, goals and core competencies inform strategic planning
1.2 analyse the factors that have to be considered when formulating strategic plans
1.3 evaluate the effectiveness of techniques used when developing strategic business plans
Specific requirements
(see Appendix for assessment criteria and grade descriptors)
Answer the following questions:
1. Compare and discuss the differences among mission, vision, objective, goal and core competence. How are they related to strategic planning? Write 1-2 sentence(s) examples for each to illustrate your answer.
Question 1 produces evidence for assessment criterion 1.1
2. What are the steps and issues/factors of strategic planning? Give examples where necessary.
Question 2 produces evidence for assessment criterion 1.2
3. What are the different planning techniques involves in strategic planning? Are there any difficulties to...

...Professor Michael Porter identifies three principles underlying strategy: creating a "unique and valuable [market] position", making trade-offs by choosing "what not to do", and creating "fit" by aligning company activities to with one another to support the chosen strategy.[5] Dr. Vladimir Kvint defines strategy as "a system of finding, formulating, and developing a doctrine that will ensure long-term success if followed faithfully."[6]
Corporate strategy involves answering a key question from a portfolio perspective: "What business should we be in?" Businessstrategy involves answering the question: "How shall we compete in this business?"[7] In management theory and practice, a further distinction is often made between strategic management and operational management. Operational management is concerned primarily with improving efficiency and controlling costs within the boundaries set by the organization's strategy.
Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.[8] Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action...